Forex Division Report by Derek Frey Date: 09/30/08 Estimated Update: 10/07/08 Company: O&F Futures & Options eMail: info@OdomandFrey.com Website: www.OdomandFrey.com General Comments  Markets continue to be focused on the bailout. We will of course get some kind of a deal done this week and calmer heads should ensue after that. We are of now of course seeing banks fail across the pond. With England taking over one of their largest banks it is clear that this is a global issue and as we have mentioned in past issues, not even close to over yet. We expect to see more of these failures in the weeks to come, however in the long run European banks will fare better than US banks and therefore we continue to sell dollars on rallies like we are seeing early this week. Asia EUR/USD: This pair fell mostly in sympathy with the Cable after news of the banks failure. After the “shock” of this is over we expect to see this pair continue to move higher and are therefore buying into this dip. GBP/USD: News of Bradford & Bingley failing sent the cable into a free fall. Even so, the British banking system is in much better shape when compared to the U.S. and therefore we are buyers of this dip. USD/CHF: This pair is expected to continue to move lower again as the Swissy is a bit of a safe haven, much like gold, in times of uncertainty. We are sellers of rallies this week, and frankly we see parity being tested sometime by early 2009. Risk Disclosure: The risk of loss in trading commodity futures and options can be substantial. Before trading MB Wealth recommends that you should carefully consider your financial position to determine if commodity trading is appropriate for you. All funds committed should be purely risk capital. Past performance is no guarantee of future trading results. There are no guarantees of market outcome stated, everything stated above are our opinions. Calculations of profit and loss have not factored in commissions and fees. Accumulating Wealth One Tic At A Time! ® Sponsored by: RSS Feeds  |  Risk Disclaimer  |  Privacy Policy  |  Advertise With Us!  |  Contribute to PitNews  |  Affiliates  |  Resources [Click Here] To check out the PitNews Traders Forum!